Thailand GDP beat expectations
Thailand’s economy rose by 3.5% on an annual basis in 2Q16—compared to growth of 3.2% in the previous quarter and estimated forecasts of an expansion of 3.2%. The GDP rose at the fastest pace since 1Q13. On a quarterly basis, Thailand’s GDP grew by 0.8% in 2Q16—compared to 1.0% growth in the previous quarter and expectations of a 0.5% rise. While exports remained weak and government spending and investments declined, there was a rise in private consumption—it drove the rise in Thailand’s GDP. The iShares MSCI Thailand Capped (THD) fell by 0.08% and the iShares Asia 50 (AIA) rose by 1.2% on August 15 at 3:30 PM EST.
Indonesian trade surplus fell
The trade surplus in Indonesia fell to 0.59 billion dollars in July from 0.88 billion dollars in the previous month. It was lower than estimated forecasts of 0.80 billion dollars. The fall in the trade surplus was primarily driven by a fall in exports that was much more than a decline in imports in Indonesia. While exports fell by 17.0% on an annual basis in July, imports fell by 11.6%. There was a decline in the sale of oil as well as non-oil products—purchases also slowed. The iShares MSCI Indonesia (EIDO) fell by 0.49% and the iShares MSCI All Country Asia ex Japan (AAXJ) rose by 1.0% on August 15 at 3:30 PM EST.
Singapore’s retail sales growth slows
Retail sales in Singapore rose at a slower note by 0.9% on an annual basis in June—compared to higher growth of 3.2% in the previous month. Retail sales recorded the lowest increase since March.
While sales grew for motor vehicles, furniture, and medical supplies, there was a decline in the sales of telecommunication products, recreational goods, and food and beverages. On a monthly basis, Singapore’s retail sales fell by 1.5% in June—compared to 1.5% growth in May. The iShares MSCI Singapore (EWS) rose by 0.83% on August 15 at 3:30 PM EST.